Eight Opinions PMs Have on Pilfering Business!

In a Facebook post, property managers shared their thoughts on the controversial topic of poaching and stealing business within the industry.

Darren Hunter asked PMs on Facebook whether they had encountered people poaching or stealing business in the industry.

Here is what property managers had to say:

#1- Cannibalism

I recently had a ‘top trainer’ inform me that the ONLY way for me to move forward in my business from this point was to ‘cannibalise’ another business. I was asked how comfortable I was with doing this and when I replied that I was not at all comfortable and I felt it was unethical, I was dropped like a hot potato…. – posted by Tina Case

#2- ‘Ethical’ targeting

If your intentions are genuine there is nothing wrong with targeting other agents’ listings. It’s real estate 101. Stale, neglected properties are the best source of new business because they are easy to find and all they want is service. If you don’t do it someone else will. As long as you act ethically and do nothing illegal what’s the problem? – posted by Paul Bryan

#3- Low-standard service = easy pickings

Most rentals are under some management by another agency. If you lose it to another agent then the client is dissatisfied with some aspect of your service. I have had clients tell me they have been approached but refuse to leave because they were confident with our service. Ensure your clients are confident in your service and not many will leave. If they leave for lower fees then you have not demonstrated value in your service. The only business we have lost in the last 12 months is the ones I have asked to leave. Talk straight to clients, if you stuff up, admit responsibility, fix the problem and get on with it. You would be surprised how forgiving clients are when you are honest – posted by Andrew Antipas

#4- ‘Happens far too often’

Poaching and stealing are the right choice of words…. it happens far too often in this industry and the reality is that there is an abundance of property out there for all businesses…one cannot have them all. Concentrate on gaining new business by genuine means not by stealing others. Of course, offering cheaper rates is the most common but I have had a particular PM troll re.com.au then send letters to our advertised rental properties stating how they are better (than our agency) and will lease the property faster, not realising that we are seeing these letters because the owners don’t live in these properties – posted by Melissa Mastrogiacomo

#5- Calling-out underperformers

The enquiries I have had to change have been mostly from agencies not doing a good job. If it is coming from an agency that I know is good, I call their principal and let them know they have an underperforming staff member without revealing any details so they have the opportunity to fix it. If they still decide to change to us, then that is their choice. I don’t believe in bad mouthing other agencies, I never participate in that carry-on. I refer to others if I can’t help them. For this reason, people remember this and refer their family or friends to our agency. If someone chooses to go with another agency, I make it clear they can contact me at any time if they have any questions – posted by Sian Day

#6- Badmouthing

I had a local agent who kept losing awesome tenants and a few owners to me through no fault of my own and he told an owner that is was an 18-year-old junior with no qualifications!! I very politely rang him and said thank you for the lovely compliment as I was 26 and asked if he’d like me to enlighten his owners about his trust account fraud and jail time! Not to mention the many court cases (back in the day) against him from many tenants about underhanded dealings! Needless to say, he didn’t say another word about me and well and truly went back into his box!! To this day he’s still operating but still waves and talks to me! –posted by Alice Endersby McSweeny

#7- ‘Happy’ clients less susceptible

If a client is happy with the level of service they are receiving they won’t be susceptible. It’s really as simple as that. I come across a lot of owners on expired MA’s which makes them an even easier target – posted by Deborah Horder

#8- Foul-play catches up to you

Someone who tries to STEAL your business or clients instead of finding their own is someone to keep away from. If your clients believe the person who tries to steal them, they are clients not worth having. People can be very sneaky and think you are stupid but when a pattern begins to appear it is pretty easy to know who it is. There is competition which is part of the business but people stealing your business by foul-means shows they are usually dodgy and do not stay in business long. Spreading lies is the most common way I have found followed by undercutting and then not doing a proper job. My policy is if they move to the thief they can stay with the thief – posted by Annette McCarthy